“I’ll take human behavior for 50, Alex.”
“The answer is, ‘Objective, disciplined and patient.'”
“What is, ‘What we’re not?'”
Being successful in life isn’t rocket science. And yet, it eludes most of us.
Successful investors are objective, disciplined and patient. Which is precisely why I leave my investments to others.
Don’t get me wrong. I can be objective, disciplined and patient. Just not about my investments. And a lot of other things, come to think of it.
It’s the same with everything in life. If you can be objective, disciplined and patient you can be successful at just about anything.
Easier said than done. But still, it can be done. How? Here’s how …
How do be objective?
By being emotionally detached. Having no skin in the game, as it were. I wouldn’t be the least bit surprised if some professional investors have more trouble with their own money than their clients’. I certainly give consulting clients advice I’d have trouble taking myself.
How to be disciplined?
That’s easy. Make rules you hate and stick to them. I decided long ago that I could be a party animal as long as I never party when I should be working. I’ve kept that up for more decades than I care to think about. It’s a damn good thing.
How to be patient?
Haven’t quite figured that one out yet. I’m not a patient person by nature. But Kim once told me that patience is a virtue. For some odd reason, that stuck with me. Which does help. A little. Very little, come to think of it. Call me a work in progress.
As I said up top, none of this is rocket science. Then again, a rocket scientist might have an easier time of it than most. Go figure.
Image credit susanjanegolding / Flickr